The latest data from Hometrack indicates the year 2013 could be quite a come-back year for the UK housing market.  Eight out of ten estate agents are more encouraged about the coming twelve months than they were last year.  This is due to various reasons, but one reason is maintaining its popularity within the list – distractions.  This could be a year which allows more people the time and planning ability to move home, without all the distractions of the last twelve months.

Nick Brown, researcher at Chesterton Humberts, elaborated on the distractions which were front and center during the year 2012.  He remarked: “After what was a tough year in 2012 with the extreme weather, the Olympic and the Paralympic Games and a stagnating economy, I am optimistic about the prospects for the prime London market in 2013.”

The decline in house prices has started to slow down, although the demand for London property remains strong.  The decline continued for more than six months before reaching a stationary point.  While London property remains much sought-after other areas are expected to pick up as well.

Miles Shipside of Rightmove commented on other areas becoming researched for property, saying: “With sellers having a real upper hand in pricing power in the highest-priced and most sought-after locations, some buyers demand will ebb away from the most fashionable hotspots and flow into other boroughs.

"Buyers in the capital have a great track record of looking elsewhere to seek out new areas offering greater value and potential.”

Shipside continued: “There has been a sprightly start to this year and while market activity remains patchy in some locations and in the different property types, some agents are reporting their busiest new year since the onset of the credit crunch.”